Oil Stocks Run Following Oil Bull Flag Bounce...Airlines Fly...Financials Steady as SPY Trading Range Now 24 Days...

Three of nine sectors moved higher and on Thursday…XLE, XLU and XLV were the strongest sectors while XLY was the weakest sector.  Oil futures rose 1.18 to close at 47.32 today following Wednesday’s bull flag bounce entry.

Breadth weakened as decliners led 1,654 to 1,377 on the NYSE and led 1,431 to 1,386 on the NASDAQ.

Thursday – weakened, decliners led, +3

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

Friday – strengthened, advancers led, +9

SPY down .50 at 218.51 on 74.1 million shares, 18% above average volume

VIX up .57 at 12.51

TLT down 1.75 at 137.79…on 14.3 million shares, 117% above average volume

Technical Commentary:

IWM -0.20%, SPY -0.23%, DIA -0.27%, QQQ -0.59%,

SPY stayed within its $3.57 trading range for the twentieth-fourth day.  Bonds TLT dropped on rising volume as the broad stock indexes paused once again. 

Airline stocks DAL UAL AAL LUV and ALK continued to rise on Thursday.

FB -0.78, -0.60% pauses on Thursday after new all-time high on Wednesday.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: C, ZION, WFC, BAC, SCHW, AMBA, CHTR, BURL, BIDU, MSI, XLNX, TIF, URBN, SWKS, MSFT, HLT, AVGO, ADBE, TSN, HRL, SINA, CAVM, KSS, RL, CBG, YELP, TWTR, FL,

Bull Flag Bounces include: MS, URBN,

Horizontal Breakout Setups include: SPY, QQQ, ETFC, ADSK, URI, KMI, CBL, UBNT, NVDA, KMX, PAYX, WDC, PCLN, HPE, NFLX, ATI, ROST, NUE

Horizontal Breakout include: SWN, VLO, MU, MPC,

New Highs include: CHK, SWN, WMB, AAL, GS, ETFC, JPM, MS, GT, JD, BABA, SYMC, WDC, IWM, FB, STX, WRK, V, NTAP, FAS, STT, HRS, SYMC, XLF, EA, INTC, AMAT,

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Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed up at 78, bullish. 

39 of 100 NDX stocks closed higher on Thursday.

51 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

DISH, EXPE, LMCA

Moving Below 30 DMA = 8

AAPL, BIIB, CERN, CTSH, CTXS, INTU, MSFT, SBUX

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Small Cap IWM New High Leads Market...FB New All-time High...Oil Bounces Bull Flag Entry...Airlines Soar...

Five of nine sectors moved higher and one was unchanged on Wednesday …XLE, XLK and XLI were the strongest sectors while XLP was the weakest sector.  Oil futures rose 1.26 to close at 46.14.  Oil bounced creating a bull flag bounce entry today.

Breadth strengthened as advancers led 1,875 to 1,145 on the NYSE and led 1,712 to 1,141 on the NASDAQ.

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

Friday – strengthened, advancers led, +9

Thursday – strengthened, advancers led on NASDAQ, +4

SPY down .02 at 219.01 on 76.5 million shares, 22% above average volume

VIX down .08 at 11.94

TLT down .10 at 139.54…on 8.5 million shares, 15% below average volume

Technical Commentary:

IWM +0.63%, QQQ +0.06%, DIA +0.00%, SPY -0.07%,

Small cap IWM led broad market segments on Wednesday. 

Airline stocks soared led by gains in DAL +5.65%, UAL +4.97%, AAL +4.84%, LUV +4.68% and ALK +2.94%.

FB +1.32, +1.02% makes a new all-time high.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: TIF, LB, C, URBN, ZION, SCHW, AMBA, WFC, BAC, SWKS, MSFT, HLT, PCAR, AVGO, ADBE, TSN, HRL, SINA, CAVM,

Bull Flag Bounces include: KSS, URI, RL,

Horizontal Breakout Setups include: SPY, QQQ, VLO, URI, KMI, CBL, MU, UBNT, NVDA, MPC, KMX, PAYX, WDC, PCLN, CBG, HPE, NFLX, YELP, TWTR, ADSK, ATI, AAPL, ROST, FL, NUE, MAT

Horizontal Breakout include: WDC, WMB, AAL, IWM,

New Highs include: FB, STX, CHTR, CHK, WRK, V, NTAP, BURL, BIDU, FAS, STT, HRS, MSI, ETFC, GS, SYMC, JD, XLF, BABA, GT, EA, INTC, AMAT, XLNX, FAS, JPM, MS,

______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed up at 74, bullish. 

43 of 100 NDX stocks closed higher on Wednesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

ADP, BMRN, INTU, PYPL, SBUX,

Moving Below 30 DMA = 4

CTRP, INCY, NXPI, TMUS,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

SPY Moves Near All-time High...FB Breaks Out to All-time High...BIDU, BABA, JD Surge...

Six of nine sectors moved higher on Tuesday …XLE, XLU and XLK were the strongest sectors while XLI was the weakest sector.  Oil futures rose .68 to close at 44.88.  Oil is forming a potential bull flag and a bullish harami on Tuesday.

Breadth weakened as advancers led 1,792 to 1,246 on the NYSE and led 1,541 to 1,347 on the NASDAQ.

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

Friday – strengthened, advancers led, +9

Thursday – strengthened, advancers led on NASDAQ, +4

Wednesday – weakened, decliners led, +3

SPY up .66 at 219.03 on 56.6 million shares, 9% below average volume

VIX up .04 at 12.02

TLT up 1.01 at 139.64…on 8.5 million shares, 36% above average volume

Technical Commentary:

QQQ +0.62%, SPY +0.30%, DIA +0.25%, IWM +0.10%,

SPY bounced to close at 219.03 just below its all-time closing high at 219.09 on August 15.  We are looking for a horizontal breakout above 219.60 with a price target of 223.17.

FB +3.22, +2.55% breaks out of horizontal resistance and makes a new all-time high.

AKS, ATI, X, SCHN and STLD jump on Tuesday.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: AMBA, WFC, BAC, C, SWKS, KSS, GPRO, MSFT, HLT, URI, TIF, LB, RL, PCAR, AVGO, URBN,

Bull Flag Bounces include: JD, KMI, HRL, CBL, MU, WDC, VLO,

Horizontal Breakout Setups include: SPY, IWM, QQQ, WMB, NVDA, MPC, PAYX, PCLN, AAL, CBG, KMX, HPE, TWTR, ADSK, ATI, AAPL, ROST, MAT

Horizontal Breakout include: FB, BIDU, BABA, JD, STX, NFLX, YELP, MSI, GT

New Highs include: FB, BIDU, BABA, GT, EA, SYMC, INTC, CHTR, CHK, HRS, GS, WRK, NTAP, AMAT, XLNX, ADBE, TSN, FAS, XLF, ZION, STT, JPM, MS, ETFC, BURL

______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed up at 70, bullish. 

60 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

CERN, CTXS, INCY,

Moving Below 30 DMA = 10

ADP, AVGO, DISH, FAST, INTU, LLTC, LMCA, MAT, MXIM, PCAR

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Stocks Rally Following Lower than Expected Jobs Report...Have a Safe Labor Day Weekend...Markets Closed Monday...

All nine sectors moved higher on Friday…XLU, XLE and XLB were the strongest sectors while XLV was the weakest sector.  Oil futures rose .67 to close at 44.20.  Oil is forming a potential bull flag and a bullish harami on Friday.

For the week ended September 2,

XLF +1.91%, XLB +1.07%, XLU +1.07%, XLP +0.94%, XLK +0.64%,

SPY +0.50%,

Lagging sectors XLI +0.46%, XLY -0.07%, XLE -0.43%, XLV -0.57%,

All nine sectors continued to be YTD positive after all nine sectors had turned YTD positive for the first time four weeks ago.

YTD 170

Leading Sectors: XLU +14.67%, XLE +14.52%, XLB +13.43%, XLI +11.17%, XLK +10.55%, XLP +8.58%,

SPY +7.11%,

Lagging Sectors: XLY +3.48%, XLF +3.11%, XLV +0.86%,

Breadth strengthened as advancers led 2,432 to 602 on the NYSE and led 1,930 to 861 on the NASDAQ.

Friday – strengthened, advancers led, +9

Thursday – strengthened, advancers led on NASDAQ, +4

Wednesday – weakened, decliners led, +3

Tuesday – weakened, advancers led on NASDAQ, +1

Monday – strengthened, advancers led, +9

SPY up .98 at 218.37 on 79.2 million shares, 27% above average volume

VIX down 1.50 at 11.98

TLT down 1.14 at 138.63…on 8.3 million shares, 34% above average volume

Technical Commentary:

IWM +0.96%, SPY +0.45%, DIA +0.41%, QQQ +0.33%,

CHTR +2.97, +1.10% to be added to SP500 on September 7.

Markets are closed on Monday for the Labor Day weekend, have a great and safe holiday.

The August Jobs Report came in at 151K below estimates of 175K and apparently big money liked that as the SPX moved back towards resistance and closed near its record high.

Reports are suggesting that the lower than expected Jobs Report brings into questions whether the Fed will raise rates in September.

IWM led the broad market segments and volatility collapsed once again in front of the 3-day Labor Day weekend.

44 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: HRL, CBL, MU, JD, TIF, LB, KSS, KMI, GPRO, RL, HLT, MSFT, WDC, URI, PCAR, VLO, AVGO, AMBA,

Bull Flag Bounces include: IWM, QQQ, ADSK, WMB, URBN, ROST, PCLN, 

Horizontal Breakout Setups include: IWM, STX, NVDA, SPY, MPC, PAYX, NFLX, AAL, MAT, CBG, KMX, AAPL, HPE, TWTR, ATI,

Horizontal Breakout include: BURL, EA,

New Highs include: ADBE, CHTR, TSN, FAS, CHK, XLF, ZION, STT, WFC, GS, BAC, JPM, MS, C, STT, ETFC, XLNX, SYMC, WRK, INTC, NTAP, CTRP, SWKS, AMAT,

______________________

Short-term Movers for the week:

SPX gainers:  UAL, CF, MOS, ADS, VRSN, TSS, PNC, ZION, TYC, BWA, WFC, +4, 12

SPX losers:  CHD, DO, HRB, HSY, GPS, UA, MYL, MUR, HES, VFC, CRM, M, TIF, BF/B,FOSL, RIG, CPB, BMY, JEC -4, 21

NDX gainers:  CHTR, LBTYA, DISH, ATVI, +4, 4

NDX losers:  TSLA, MYL, ENDP, ALXN, COST, GILD, REGN, ULTA, -4, 4,

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed up at 68, bullish. 

67 of 100 NDX stocks closed higher and two were unchanged on Friday.

61 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 9

BIIB, CA, CTSH, DISH, FAST, GOOG, LMCA, TMUS, WDC

Moving Below 30 DMA = 4

ADI, CERN, CTXS, TXN

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

Financials Pause Ahead of Friday's Jobs Report...Materials, Tech and Discretionary Lead as Oil Continues its Pullback...CHTR, CTRP, AAPL, EA, NVDA Rise...

Five of nine sectors moved higher on Thursday …XLB, XLK and XLY were the strongest sectors while XLU was the weakest sector.  Oil futures fell 1.33 to close at 43.53.  Oil is forming a potential bull flag.

Breadth strengthened as decliners led 1,575 to 1,425 on the NYSE and advancers led 1,513 to 1,319 on the NASDAQ.

Thursday – strengthened, advancers led on NASDAQ, +4

Wednesday – weakened, decliners led, +3

Tuesday – weakened, advancers led on NASDAQ, +1

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +3

SPY up .01 at 217.39 on 97.8 million shares, 58% above average volume

VIX up .06 at 13.48

TLT down .10 at 139.77…on 9.1 million shares, 48% above average volume

Technical Commentary:

QQQ +0.26%, DIA +0.09%, IWM +0.07%, SPY +0.00%,

CHTR +11.61, +4.51% to be added to SP500.

Tomorrow the Jobs Report will be out.  A strong report likely will be good for financial stocks which paused today ahead of Friday’s report.

Many believe that Friday’s Job Report for August will give them the clue to whether the Fed actually raise rates in September.  Watch for the market reaction to Friday’s jobs report and trade according to what you see…trend, support and resistance and momentum.

Semiconductors SOX, SMH continued to be among market leaders on Thursday.  QQQ was the strongest broad market segment as CHTR, CTRP, AAPL, EA and NVDA bounce.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: QQQ, HRL, ADSK, MU, IWM, WMB, URBN, JD, TIF, LB, KSS, ROST, KMI, GPRO, RL, HLT, MSFT, WDC, PCLN, URI, PCAR, VLO,

Bull Flag Bounces include: AAPL, EA, NVDA,

Horizontal Breakout Setups include: BURL, MPC, IWM, SPY, PCAR, ATI, STX, PAYX, NFLX, AAL, MAT, HPE, CBG, AVGO, KMX, TWTR,

Horizontal Breakout include: CHTR, CTRP, CCL,

New Highs include: CTRP, SWKS, ADBE, WRK, NTAP, AVGO, AMAT, INTC, XLNX, SYMC, TSN, CBL, WFC, GS, FAS, XLF, BAC, ZION, JPM, AMBA, MS, C, PCAR, STT, CHK, ETFC,

______________________

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed down below 80 at 64, defensive.  SPY is above short-term support, take defensive action if SPY breaks below 217, otherwise trend is short-term trend is neutral and stay positioned accordingly.

67 of 100 NDX stocks closed higher and two were unchanged on Thursday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

ADI, ADP, CERN, INTU, WBA

Moving Below 30 DMA = 2

ENDP, FAST

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral